Save Article

Our National Jobs Emergency

Immediate government spending cuts would only make things worse. A new jobs tax cut for companies repatriating their profits could help.

By

Alan S. Blinder

July 12, 2011

Last Friday's employment report landed with a loud thud. Only 18,000 net new jobs in June? How could that be? One Wall Street economist said he thought it was a misprint at first. He was not alone.

The horrific June employment number made it two in a row. With the latest revisions, job growth in May is now estimated to have clocked in at only 25,000 jobs. So that's 25,000 and 18,000 in consecutive months. Given the immense size of...